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Embraer hits out after Boeing scraps $4.2 billion tie-up [Reuters]

Boeing Company (The) (BA) 
Last boeing company (the) earnings: 4/29 07:30 am Check Earnings Report
Company Research Source: Reuters
Boeing abandons $4.2 billion Embraer jetliner tie-up SAO PAULO/PARIS (Reuters) - Boeing Co ( BA.N ) on Saturday pulled out of a $4.2 billion deal to buy the commercial jets division of Brazil’s Embraer ( EMBR3.SA ), unraveling years of work on a transformative move driven by expanding competition with Europe’s Airbus ( AIR.PA ). The deal’s collapse, first reported by Reuters, is expected to trigger a legal battle as hopes for an alliance spanning from regional to jumbo jets dissolve into behind-the-scenes bickering, though a separate military transporter marketing pact will remain intact. “Over the past several months, we had productive but ultimately unsuccessful negotiations ... We all aimed to resolve those by the initial termination date, but it didn’t happen,” Boeing senior vice-president Marc Allen, the president of the proposed Embraer partnership, said in a statement. Embraer had no immediate comment. The collapse of talks halts the second half of a major reshaping of th Show less Read more
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